The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: Beginning balances: Inventory Accounts receivable Ending balances: Inventory Accounts receivable Cash Marketable securities (short-term) Prepaid expenses Accounts payable Taxes payable Wages payable Short-term loans payable $200,000 300,000 250,000 400,000 100,000 200,000 50,000 175,000 85,000 90,000 50,000 During the year, Arn had net sales of $2.45 million. The cost of goods sold was $1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.